BMW Said to Plan $1 Billion Factory in Mexico Following Audi
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Bayerische Motoren Werke AG plans to invest about $1 billion in a new factory in Mexico, catching up with its German competitors in manufacturing luxury cars in the Latin American country, a person familiar with the matter said.
BMW’s second plant in North America will produce about 150,000 cars a year when production starts by 2019, said the person, who asked not to be identified before an official announcement. The factory will be located in San Luis Potosi, 250 miles northwest of Mexico City, and will employ about 1,500 people, the person said.